Decision Notice - A2 Fund (2017-10-17)

Summary

This is a Decision Notice published by CIMA disclosing that it has cancelled the mutual fund registration of A2 Fund (Registration #637873). It records the regulatory history and reasons for cancellation, and is an informational enforcement notice rather than a document imposing ongoing obligations on other entities.

• Breaches found: The Fund breached Sections 8(1), 8(2) and 9 of the Mutual Funds Law (2015 Revision) by failing to prepare and submit audited accounts for the years ended 31 December 2012 to 2014, and by failing to pay annual fees and penalties for 2013 to 2016.
• Action taken: CIMA cancelled the Fund's mutual fund registration under Section 30(16) of the Law, having previously issued a Warning Notice dated 27 May 2016.
• Reason: CIMA was satisfied the Fund had ceased to carry on, or attempt to carry on, business as a mutual fund and had failed to become compliant despite repeated requests.
• Effective date: The cancellation decision took effect on 28 June 2016.

Applies to

mutual funds, directors of mutual funds

Deadlines

• 28 June 2016: Effective date of CIMA's decision to cancel the Fund's mutual fund registration.